NongHyup Capital Develops First Financial Product for Electric Vehicle Chargers in the Financial Sector

NH Nonghyup Capital signed a business agreement (MOU) on the 26th for cooperation in the electric vehicle charging infrastructure business as part of its ESG promotion strategy with Korea Electric Vehicle Charging Service, a company specializing in electric vehicle charging services. At the business partnership signing ceremony held at the NH Nonghyup Capital headquarters, CEO Park Tae-seon (fourth from the left in the photo), CEO Kim Si-ho of Korea Electric Vehicle Charging Service (third from the left in the photo), and other officials took a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kiho Sung] NH Nonghyup Capital announced on the 26th that it has signed a Memorandum of Understanding (MOU) for business cooperation in the electric vehicle charging infrastructure sector with Korea Electric Vehicle Charging Service (Korea Charging), a company specializing in electric vehicle charging services, as part of its ESG (Environmental, Social, and Governance) promotion strategy.

At the signing ceremony, key officials from both NH Nonghyup Capital and Korea Charging attended, agreeing to mutually cooperate to provide competitive installment and lease products for electric vehicle chargers to business operators.

This agreement is the first case where a financial company has partnered with a charging service provider to develop financial products for electric vehicle chargers, in line with Nonghyup Financial Group’s ESG promotion strategy and the government’s eco-friendly vehicle distribution policy.

As the electric vehicle market grows, the demand for charging infrastructure is also increasing, raising the necessity for companies to install electric vehicle chargers. Currently, installing a 100kW fast charger that supports rapid charging speed costs about 50 million KRW.

However, by using NH Nonghyup Capital’s installment and lease products for electric vehicle chargers, it is possible to install and use a 100kW fast charger at a monthly cost of approximately 700,000 KRW (based on 60 months).

Through mutual cooperation between NH Nonghyup Capital and Korea Charging, it is expected to contribute to the expansion of electric vehicle charger distribution in the future.

Park Taeseon, CEO of NH Nonghyup Capital, stated, “We expect this agreement to have a positive impact on opening the full-scale electric vehicle era,” and added, “We will strengthen ESG management by enhancing social value.”

This content was produced with the assistance of AI translation services.